InCred Money Enters Retail Broking with Stocko Acquisition
Wealthtech Arm Expands into Equities and Derivatives to Build Full-Stack Financial Ecosystem
InCred Money, the retail wealthtech division of InCred Group, is set to make its foray into the retail broking sector through the acquisition of South Asian Stocks Limited (SASL), which operates under the brand Stocko.
Strategic Rebranding and Integration
Upon securing regulatory approvals, Stocko will be rebranded as InCred Stocko and operate as a subsidiary of InCred Money.
- InCred will also absorb the entire Stocko team, enhancing its capabilities in the active trading space.
- While financial terms of the deal remain undisclosed, the move marks InCred Group’s official entry into equities and derivatives trading.
Vision to Build a Comprehensive Financial Ecosystem
InCred Group, led by founder and CEO Bhupinder Singh, aims to build a tech-driven, integrated financial platform spanning lending, asset management, capital markets, and retail investing.
- “Stocko gives us a proven platform with serious volume,” Singh noted, emphasizing plans to amplify its scale with InCred’s capital, technology, and customer-centric approach.
Founded in 2013, Stocko is known for its low-cost trading model, offering equities, derivatives, commodities, and currency trading with subscription plans starting at INR 2.99 per order.
Competitive Landscape in Retail Broking
This acquisition comes amid a boom in India’s retail investing sector, with several wealthtech and fintech platforms entering the broking space:
- In February, Univest launched Univest Broking, offering demat services and trade execution.
- Groww, aiming to expand in wealth management, recently acquired Fisdom in an all-cash deal.
- New entrants like PhonePe, Paytm Money, and Dhan continue to challenge established players like Zerodha, Groww, and Angel One.
The Indian investment tech market is projected to hit $14 Bn in 2025, fueling acquisitions, product expansions, and platform integrations.
InCred Group’s Broader Financial Footprint
Founded in 2016 by ex-Deutsche Bank executive Bhupinder Singh, InCred operates across BFSI via:
- InCred Finance (lending)
- InCred Capital (wealth and asset management)
- InCred Money (retail investment products)
On the financial side, InCred Financial Services reported an 18% rise in net profit to INR 374 Cr in FY25, with operating revenue jumping 47% to INR 1,871.9 Cr, signaling strong momentum in its core lending business.
